US equity futures settled in positive territory amidst volatile trade as comments regarding the fiscal cliff reversed sentiment. The fiscal cliff has dominated investors outlook in recent days and comments from US Houser Speaker Boehner and President Obama that indicated progress was being made towards a deal fuelled optimism that was reflected in equity futures. Knight Capital rose 13.6% on the back of news of rival takeover bids from Getco and Virtu, Costco rose 6.23% after the retailer became the latest company to announce a special dividend in anticipation of tax hikes in the new year, but the outperformer of the day was Green Mountain Coffee Roasters who rose 27% after an impressive earnings report. Markets were also supported by Fed’s Beige Book which said that the economy was expanding at a measured pace contributed to the move to the upside as did WSJ analysis of the comments later in the session. Finally, the DJIA finished up 0.83% at 12984.49, the S&P 500 finished up 0.78% at 1409.91 and the Nasdaq 100 finished up 0.9% at 2665.27.
29 Nov 2012 - 00:01 - Equities Bank Speaker - Source: RANsquawk
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: